Gold Monitoring Thread $ (USD) only

[Cointreau]

On 08/05/2020 at 03:09, Foster88 said:

In my thinking, you’ve done it the wrong way around, but having said that, having both is good but I feel gold will increase. I might be proved wrong but I can’t see it dropping dramatically.

It also depends how long you intend to hold the gold for, if that’s 10/20/30+ years then buy now.

If it’s to buy now and sell next month for example, which I doubt is what you’ll do then it’s a risk like everything else in life.

Gold could well be £3,000 an oz by 2040 or higher or lower in twenty years time (writing that I can’t belive 2040 is only 20 years away, I remember the 90’s 😆).

Anyway, none of us know.

2040? You're looking too far ahead mate. Gold could be £20K an oz by then. Who knows?

[Cointreau]

I said we'd hit $1740. It took a about three weeks to happen but still. This is really bullish for this time of the year. Gold will be $2k plus by end of year.

Especially so when the stockmarkets crash again in the autumn.

[DarkChameleon]

1 hour ago, Cointreau said:

I said we'd hit $1740. It took a about three weeks to happen but still. This is really bullish for this time of the year. Gold will be $2k plus by end of year.

Especially so when the stockmarkets crash again in the autumn.

But what will it be comparred to other currencies?....itsnot worth selling in to a weak dollar.

[Cointreau]

4 hours ago, DarkChameleon said:

But what will it be comparred to other currencies?....itsnot worth selling in to a weak dollar.

I have not sold a gram of my stack. Some of it has nearly doubled in pound sterling.

[GoldenPhil]

On 15/05/2020 at 13:58, GoldenPhil said:

Look at $1800

https://www.fxstreet.com/amp/news/gold-price-analysis-symmetrical-triangle-breakout-targets-1805-in-the-coming-weeks-202005170704

 

[Abyss]

$1880 USD Gold price looking likely now

[sixgun]

[sixgun]

 

[GoldenPhil]

Strong dollar today? 

[Bumble]

No. DXY is down. FTSE, DOW, S&P, Nasdaq and Bitcoin are also down. So stocks have sold off and the money is not going into gold, silver or bitcoin. Where is it going, we wonder?

[GoldenPhil]

29 minutes ago, Bumble said:

No. DXY is down. FTSE, DOW, S&P, Nasdaq and Bitcoin are also down. So stocks have sold off and the money is not going into gold, silver or bitcoin. Where is it going, we wonder?

Any guesses?

[Martlet]

Debt repayment.

[GoldenPhil]

22 minutes ago, Martlet said:

Debt repayment.

I agree. Plus margin calls. 

[Bumble]

I suppose it is possible that stock traders are selling because of the recent falls and are just sitting tight licking their wounds. From what I have heard, many Americans used their government handouts to open a Robinhood account and buy stocks and stock options. It would explain why popular stocks like TSLA are so expensive. The money should find its way back into gold soon enough.

[GoldenPhil]

Gold to $2000

https://www.cnbc.com/amp/2020/06/19/goldman-hikes-gold-price-forecast-on-debasement-fears-and-a-weaker-dollar.html

 

[Bumble]

It is interesting how well Bollinger bands are doing at marking the tops and bottoms of the gold price.

[Bumble]

A lovely day for gold. The last Friday of an even numbered month usually means futures contract expiry day and options expiry day, and so it was today. NY woke up and an attempt was made to drive the price down from $1763 to $1745, and it failed within two hours. Buyers stepped in and took the price up to $1771. This kind of price move is nearly always bullish. It signifies that buyers will not get out of the way when they see the price falling, instead they will move in and buy the dip.

[sovereignsteve]

On 24/06/2020 at 23:49, Bumble said:

It is interesting how well Bollinger bands are doing at marking the tops and bottoms of the gold price

Isn't that a function of how they are calculated, it works out that way most of the time.

[Bumble]

Yes, but Bollinger Bands are inevitably calculated on the basis of past data, so they still have to 'work' by correctly predicting future tops and bottoms. Of course, some of it is reflexive activity, because there are traders who will step in and sell when they see the price hit the upper BB, or buy when it hits the lower.

[sovereignsteve]

25 minutes ago, Bumble said:

Yes, but Bollinger Bands are inevitably calculated on the basis of past data, so they still have to 'work' by correctly predicting future tops and bottoms. Of course, some of it is reflexive activity, because there are traders who will step in and sell when they see the price hit the upper BB, or buy when it hits the lower.

That is because they know that the bands will show the limits of the the price movement most of the time.

They are a measure of volatility and are constantly calculated after each period candle is finished. Therefore they reflect the current situation as much as can be.

As volatilty increases the bands deviate, meaning they are more likely to show the limit of the current price movement, and vice versa.

As you say, traders will trade them, adding to the illusion that they are a self-fullfilling prophecy. They always act this way until they don't😉

[cornishrich]

How's it going everyone. Pretty new to gold and silver and as wondering people's thoughts on where gold and silver prices could be in 18 months or so. Thanks for any replies

[GoldenPhil]

Overall up up up. BUT it is never a straight path. It will be a zigzag, ups and downs to the top. 

[Kman]

1 hour ago, cornishrich said:

How's it going everyone. Pretty new to gold and silver and as wondering people's thoughts on where gold and silver prices could be in 18 months or so. Thanks for any replies

I don't know anything, just a conservative guess

Gold $2100

Silver $30

Silver needs to break out of the channel it's been in for years though to show it's going somewhere, whereas gold is already on a strong path up

[KRO]

1800 on Comex, spot won't be delayed much longer

Gold futures rose above US$1,800 an ounce for the first time in eight years as low interest rates and a resurgence in coronavirus cases drive demand for the metal as a haven.- Bloomberg

[5huggy]

33 minutes ago, KRO said:

1800 on Comex, spot won't be delayed much longer

Gold futures rose above US$1,800 an ounce for the first time in eight years as low interest rates and a resurgence in coronavirus cases drive demand for the metal as a haven.- Bloomberg

You obviously watch - similar info channels as me ! 😉👍